Homework Answers
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Payout ratio - Last year : = Dividends paid/Net income = 102,000/510,000 = 20% |
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Dividends paid this year : = Current year net income * last year payout ratio = 1,360,000 * 20% = 272,000 |
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View Policies Current Attempt in Progress Hans Blue, president of Blue Spruce Corp., believes that it...
View Policies Current Attempt in Progress Hans Sheffield, president of Sheffield Corp., believes that it is...
View Policies Current Attempt in Progress Hans Sheffield, president of Sheffield Corp., believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. Last year, net income was $650.000, and the corporation paid $130,000 in dividends. This year, due to some unusual circumstances, the corporation had income of $1,500,000. Hans expects next year's net income to be about $750,000 What was Sheffield Corp's payout ratio last year? If it is...
Hans Marigold, president of Marigold Corp., believes that it is a good practice for a company...
Hans Marigold, president of Marigold Corp., believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. Last year, net income was $570,000, and the corporation paid $108,300 in dividends. This year, due to some unusual circumstances, the corporation had income of $1,420,000. Hans expects next year's net income to be about $670,000. What was Marigold Corp's payout ratio last year? If it is to maintain the same payout ratio,...
Question 6 View Policies Current Attempt in Progress The stockholders' equity accounts of Blue Spruce Corp....
Question 6 View Policies Current Attempt in Progress The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2017, were as follows. Preferred Stock (8%, $100 par noncumulative, 4,300 shares authorized) $258,000 Common Stock ($3 stated value, 341,000 shares authorized) 852,500 Pald-in Capital in Excess of Par Value--Preferred Stock 12.900 Paid-in Capital in Excess of Stated Value-Common Stock 545,600 Retained Earnings 687,500 Treasury Stock (4,300 common shares) 34.400 During 2017, the corporation had the following transactions and events pertaining...
Question 11 --/1 View Policies Current Attempt in Progress Blue Spruce Company purchases a patent for $312,000 on Janua...
Question 11 --/1 View Policies Current Attempt in Progress Blue Spruce Company purchases a patent for $312,000 on January 2, 2020. Its estimated useful life is 13 years. Prepare the journal entry to record amortization expense for the first year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit eTextbook and...
View Policies Current Attempt in Progress The May transactions of Blue Spruce Corp. were as follows....
View Policies Current Attempt in Progress The May transactions of Blue Spruce Corp. were as follows. May 4 7 8 9 Paid $750 due for supplies previously purchased on account. Performed advisory services on account for $7,150. Purchased supplies for $870 on account. Purchased equipment for $2.940 in cash. Paid employees $650 in cash. Received bill for equipment repairs of $830. Paid $1.270 for 12 months of insurance policy. Coverage begins June 1. 17 22 29 Journalize the transactions. (If...
Question 4 View Policies Current Attempt in Progress The following financial information is available for Sunland...
Question 4 View Policies Current Attempt in Progress The following financial information is available for Sunland Corporation. (in millions) Average common stockholders' equity Dividends declared for common stockholders Dividends declared for preferred stockholders Net income 2020 $2.554 3 17 45 520 2019 $2,608 668 45 576 Calculate the payout ratio and return on common stockholders' equity for 2020 and 2019. (Round answers to 1 decimal plc 2020 2019 Payout ratio Return on common stockholders' equity e Textbook and Media
View Policies Current Attempt in Progress The stockholders' equity section of Lemay Corporation shows the following...
View Policies Current Attempt in Progress The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018: Preferred stock-5%, $100 par, 5,100 shares outstanding $510,000 Common stock-$10 par, 62,000 shares outstanding 620,000 Paid-in capital in excess of par 200,000 Retained earnings 104,600 Total stockholders' equity $1,434,600 Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/18 and that preferred dividends were last paid on 12/31/16, show how much the preferred...
Current Attempt in Progress In 2022, Bramble Corp. had cash receipts of $54880 and cash disbursements...
Current Attempt in Progress In 2022, Bramble Corp. had cash receipts of $54880 and cash disbursements of $31360. Bramble's cash balance at December 31, 2022 was $76440. What was Bramble's January 1, 2022 cash balance? O $52920 O $99960 O $68600 O $107800 View Policies Current Attempt in Progress In 2022, Sheridan Company had cash receipts of $29400, including additional owner investments of $10,000, and cash disbursements of $16800. Sheridan Company purchased equipment of $12,000 on account. Sheridan's cash balance...
View Policies Current Attempt In Progress The stockholders' equity accounts of Pina Colada Corp. on January...
View Policies Current Attempt In Progress The stockholders' equity accounts of Pina Colada Corp. on January 1, 2017, were as follows. $249.000 1,437,499 12.450 Preferred Stock (7%, $100 par noncumulative, 4, 150 shares authorized) Common Stock (55 stated value, 345,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Pald-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (4,150 common shares) 694,000 33.200 During 2017, the corporation had the following transactions and events pertaining to its...
Question 3 --/1 View Policies Current Attempt in Progress Garrett Boone, Bramble Enterprises' vice president of...
Question 3 --/1 View Policies Current Attempt in Progress Garrett Boone, Bramble Enterprises' vice president of operations, needs to replace an automatic lathe on the production line. The model he is considering has a sales price of $288,800 and will last for 7 years. It will have no salvage value at the end the new lathe will reduce raw materials scrap by $43,100 per year. He also believes the lathe will reduce energy costs by $23,000 per year. If he...
View Policies Current Attempt in Progress Hans Sheffield, president of Sheffield Corp., believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. Last year, net income was $650.000, and the corporation paid $130,000 in dividends. This year, due to some unusual circumstances, the corporation had income of $1,500,000. Hans expects next year's net income to be about $750,000 What was Sheffield Corp's payout ratio last year? If it is...
Hans Marigold, president of Marigold Corp., believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. Last year, net income was $570,000, and the corporation paid $108,300 in dividends. This year, due to some unusual circumstances, the corporation had income of $1,420,000. Hans expects next year's net income to be about $670,000. What was Marigold Corp's payout ratio last year? If it is to maintain the same payout ratio,...
Question 6 View Policies Current Attempt in Progress The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2017, were as follows. Preferred Stock (8%, $100 par noncumulative, 4,300 shares authorized) $258,000 Common Stock ($3 stated value, 341,000 shares authorized) 852,500 Pald-in Capital in Excess of Par Value--Preferred Stock 12.900 Paid-in Capital in Excess of Stated Value-Common Stock 545,600 Retained Earnings 687,500 Treasury Stock (4,300 common shares) 34.400 During 2017, the corporation had the following transactions and events pertaining...
Question 11 --/1 View Policies Current Attempt in Progress Blue Spruce Company purchases a patent for $312,000 on January 2, 2020. Its estimated useful life is 13 years. Prepare the journal entry to record amortization expense for the first year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit eTextbook and...
View Policies Current Attempt in Progress The May transactions of Blue Spruce Corp. were as follows. May 4 7 8 9 Paid $750 due for supplies previously purchased on account. Performed advisory services on account for $7,150. Purchased supplies for $870 on account. Purchased equipment for $2.940 in cash. Paid employees $650 in cash. Received bill for equipment repairs of $830. Paid $1.270 for 12 months of insurance policy. Coverage begins June 1. 17 22 29 Journalize the transactions. (If...
Question 4 View Policies Current Attempt in Progress The following financial information is available for Sunland Corporation. (in millions) Average common stockholders' equity Dividends declared for common stockholders Dividends declared for preferred stockholders Net income 2020 $2.554 3 17 45 520 2019 $2,608 668 45 576 Calculate the payout ratio and return on common stockholders' equity for 2020 and 2019. (Round answers to 1 decimal plc 2020 2019 Payout ratio Return on common stockholders' equity e Textbook and Media
View Policies Current Attempt in Progress The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018: Preferred stock-5%, $100 par, 5,100 shares outstanding $510,000 Common stock-$10 par, 62,000 shares outstanding 620,000 Paid-in capital in excess of par 200,000 Retained earnings 104,600 Total stockholders' equity $1,434,600 Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/18 and that preferred dividends were last paid on 12/31/16, show how much the preferred...
Current Attempt in Progress In 2022, Bramble Corp. had cash receipts of $54880 and cash disbursements of $31360. Bramble's cash balance at December 31, 2022 was $76440. What was Bramble's January 1, 2022 cash balance? O $52920 O $99960 O $68600 O $107800 View Policies Current Attempt in Progress In 2022, Sheridan Company had cash receipts of $29400, including additional owner investments of $10,000, and cash disbursements of $16800. Sheridan Company purchased equipment of $12,000 on account. Sheridan's cash balance...
View Policies Current Attempt In Progress The stockholders' equity accounts of Pina Colada Corp. on January 1, 2017, were as follows. $249.000 1,437,499 12.450 Preferred Stock (7%, $100 par noncumulative, 4, 150 shares authorized) Common Stock (55 stated value, 345,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Pald-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (4,150 common shares) 694,000 33.200 During 2017, the corporation had the following transactions and events pertaining to its...
Question 3 --/1 View Policies Current Attempt in Progress Garrett Boone, Bramble Enterprises' vice president of operations, needs to replace an automatic lathe on the production line. The model he is considering has a sales price of $288,800 and will last for 7 years. It will have no salvage value at the end the new lathe will reduce raw materials scrap by $43,100 per year. He also believes the lathe will reduce energy costs by $23,000 per year. If he...
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